Sports betting is a popular activity that millions of people enjoy every year. This industry is booming, with several states legalizing it for the first time in 2018. But before you place your next wager, it’s important to understand some basics about sports betting.
Choosing the Right Bets
There are many different types of bets available in the world of sports betting, but they all have one thing in common: a payout if the outcome you bet on is achieved. There are moneylines, spreads and parlays to choose from, each of which have their own set of rules.
The most basic type of sports bet is a moneyline, which is based on the implied probability of a team winning. This type of bet is a great way to pick out games with high odds, while staying away from the underdogs that pay smaller returns.
Point Spreads and Totals
A popular option for both newcomers and experienced bettors, point spreads are a way to increase your profits by betting on the total score of a game. Unlike moneylines, which reflect the implied probability of a winner, point spreads are based on a team’s perceived strength. This is why you’ll often see teams with positive (favorites) and negative (underdogs) points lines, which can vary slightly between sportsbooks.
If you’re interested in wagering on the over/under, remember that the game is always ongoing. Unless the team you’re betting on goes over or under, your bet will likely lose, and that’s why it’s so important to shop around and find a good sportsbook.
There are plenty of prop bets available, and they’re a great way to add extra excitement to your wager. These can include anything from a specific player’s stats to an event’s outcome.
MMA and UFC are perfect candidates for props, since these fights are fast-paced and can be a little unpredictable. These bets can be made before a match even begins, and they’re an easy way to make money if you’re confident in the result of the fight.
The best way to improve your odds of winning a bet is to find value. Identifying bets that are more likely to happen than the odds suggest is a great way to boost your odds and win big over the long term.
You’ll need to make a consistent bet size to maximize your odds, so it’s best to stick to anywhere from 1-2% of your bankroll on a per-play basis. This way, your bets can withstand variance and you’ll be able to keep your bankroll intact no matter how bad your luck is.
You can also use the tools at Mercurius to find the real probability of a team winning, which will allow you to spot better odds on any given bet. These tools can be incredibly useful for betting on live events, which are often the most exciting and highest-scoring of all types of sports.